The ‘Lobi’ region in what is today southern Burkina Faso is frequently mentioned in historical accounts of gold mining in West Africa. However, little is known about the actual location of the gold mines or about the way gold mining and trade were organized in precolonial times. This article points out that some previous hypotheses about precolonial gold mining, trade and the sociopolitical organization of this region are flawed, partly because ‘Lobi’, as the name for both the region and its inhabitants, is misleading. In fact, the references to ‘Lobi’ merge two distinct gold-producing zones along the Mouhoun river, about 200 km from each other. The present-day populations of southern Burkina who have settled there since the eighteenth century do not know who was mining gold prior to their arrival, and many of them have not been involved in gold mining at all due to conceptions of gold as a dangerous substance.